The 3C IT Solutions & Telecoms (India) Limited IPO is a fixed price issue amounting to ₹11.44 crores. This issue includes a fresh issuance of 17 lakh shares totaling ₹8.84 crores and an offer for sale of 5 lakh shares aggregating to ₹2.60 crores.
The IPO is open for subscription from June 4, 2024, to June 7, 2024. The allotment is expected to be finalized on June 10, 2024, with the shares scheduled to list on the BSE SME on June 12, 2024.
The IPO is priced at ₹52 per share, with a minimum lot size of 2000 shares. Retail investors need to invest at least ₹104,000, while High Net Worth Individuals (HNIs) have a minimum investment requirement of ₹208,000 for two lots (4,000 shares).
Kreo Capital Private Limited is managing the IPO, with Skyline Financial Services Private Ltd as the registrar. Shreni Shares is the market maker for this issue.
**Key Details:**
– **IPO Dates:** June 4, 2024 to June 7, 2024
– **Listing Date:** June 12, 2024
– **Face Value:** ₹5 per share
– **Price:** ₹52 per share
– **Lot Size:** 2000 shares
– **Total Issue Size:** 2,200,000 shares (₹11.44 Cr)
– **Fresh Issue:** 1,700,000 shares (₹8.84 Cr)
– **Offer for Sale:** 500,000 shares (₹2.60 Cr)
– **Issue Type:** Fixed Price Issue IPO
– **Listing At:** BSE SME
– **Pre-issue Shareholding:** 4,320,000 shares
– **Post-issue Shareholding:** 6,020,000 shares
– **Market Maker Portion:** 112,000 shares (5.09%)
**Reservation Details:**
– **Total Shares Offered:** 2,200,000
– **Non-Institutional Investors (NII):** 1,044,000 (47.45%)
– **Retail Investors (RII):** 1,044,000 (47.45%)
– **Market Maker:** 112,000 (5.09%)
**IPO Timeline (Tentative):**
– **Open Date:** June 4, 2024
– **Close Date:** June 7, 2024
– **Allotment Date:** June 10, 2024
– **Initiation of Refunds:** June 11, 2024
– **Credit of Shares to Demat:** June 11, 2024
– **Listing Date:** June 12, 2024
– **UPI Mandate Confirmation Cut-off:** 5 PM on June 7, 2024
**Investment Details:**
– **Retail Minimum Investment:** 1 lot (2000 shares) = ₹104,000
– **Retail Maximum Investment:** 1 lot (2000 shares) = ₹104,000
– **HNI Minimum Investment:** 2 lots (4000 shares) = ₹208,000
**Promoter Information:**
– **Promoters:** Mr. Ranjit Kulladhaja Mayengbam and Mrs. Gangarani Devi Mayengbam
– **Pre-issue Shareholding:** 72.00%
– **Post-issue Shareholding:** 51.66%
**Company Profile:**
3C IT Solutions & Telecoms (India) Limited, established in 2015, specializes in IT systems integration. The company provides various IT products and services across three main segments: Infrastructure Solutions, Digital Business Solutions, and Consulting Solutions.
**Financial Information:**
– **Revenue (Dec 31, 2023):** ₹2,355.66 lakh
– **Profit After Tax (Dec 31, 2023):** ₹50.52 lakh
– **Assets (Dec 31, 2023):** ₹1,898.43 lakh
– **Net Worth (Dec 31, 2023):** ₹460.26 lakh
– **Total Borrowing (Dec 31, 2023):** ₹592.43 lakh
**Performance Indicators:**
– **RoNW:** 10.98%
– **P/BV:** 4.88
– **PAT Margin:** 2.17%
**Objectives of the IPO:**
1. Funding working capital requirements.
2. Repayment or prepayment of certain borrowings.
3. General corporate purposes.
**Subscription Status (as of June 4, 2024, 11:59 AM):**
– **Overall Subscription:** 0.29 times
– **Retail Category:** 0.54 times (5,60,000 shares bid for 10,44,000 shares offered)
– **NII Category:** 0.05 times (50,000 shares bid for 10,44,000 shares offered)
**Review:**
The company operates in a competitive and fragmented IT systems integration market and has shown inconsistent financial performance. The IPO appears to be aggressively priced based on FY24 annualized earnings, indicating a longer period before potentially migrating to the mainboard. As such, investors may consider avoiding this risky bet .
